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Irish Pensions Magazine Autumn 2016
Advertorial
Expert Opinion
selection. Experienced portfolio managers consider
market dynamics, liquidity and other factors when
choosing securities to gain the required underlying
exposure in the most effective and performance-
enhancing way.
Summary
In times of seemingly ever lower fixed income yields,
we consider EMD yields to be relatively attractive. The
sector has experienced impressive developments in
terms of market size and types of securities available.
Active managers have persistently struggled with
the volatile and changeable nature of EMD and
have largely failed to provide either excess returns
or downside protection. More cost efficient and
transparent index approaches are now being seen
as highly effective and are gaining popularity among
institutional investors.
Footnotes
1 Source: Barclays and JP Morgan. As at date 30 June 2016
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.Investing involves risk
including the risk of loss of principal. The information contained in
this communication isnot a researchrecommendationor ‘investment
Niall O’Leary
Head of EMEA Fixed Income Port-
folio Strategists
State Street Global Advisors
Article Author
research’ and is classified as a ‘Marketing Communication’ in
accordance with the European Communities (Markets in Financial
Instruments) Regulations 2007. This means that this marketing
communication (a) has not been prepared in accordance with
legal requirements designed to promote the independence of
investment research (b) is not subject to any prohibition on dealing
ahead of the dissemination of investment research. All material has
been obtained from sources believed to be reliable. There is no
representation or warranty as to the accuracy of the information
and State Street shall have no liability for decisions based on such
information. Diversification does not ensure a profit or guarantee
against loss. The views expressed in this material are the views
of Niall O’Leary through the period ended 31 August, 2016 and
are subject to change based on market and other conditions.
This document contains certain statements that may be deemed
forward-looking statements. Please note that any such statements
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2016 State Street Corporation. All Rights Reserved. IREMKT – 1787
Expiration: 30/09/2017